Steinbrenner to lower Yankees' payroll

Associated Press  |  Last updated March 01, 2012
New York Yankees managing general partner Hal Steinbrenner says it's his goal to lower the team's payroll to $189 million over the next few years. Under baseball's new labor contract, the luxury tax threshold will be at $189 million after the 2013 season. Said Steinbrenner on Thursday: ''Is it a requirement with baseball that we hit 189? No, it's not a requirement, but that is going to be the luxury tax threshold and that's where I want to be. I don't think it's an unrealistic goal.'' Steinbrenner said this season's payroll is around $210 million. The Yankees were hit with a $13.9 million luxury tax for last season. New York's final 2011 payroll was $212.7 million.
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